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Lundins Strike Gold: C$17.5M Investment Yields C$1.03B
9 Mar
Summary
- Lundins achieved a 2,049% return on a C$17.5 million investment.
- Montage Gold's Ivory Coast mine is set to produce gold ahead of schedule.
- The family's total fortune is estimated at $18.1 billion.
The Lundin family has realized an extraordinary 2,049% return on a C$17.5 million investment made in March 2025 into Montage Gold Corp. This strategic investment, intended to facilitate the development of the company's key mine in Ivory Coast, has yielded immense profits. The mine is now projected to commence gold production by year-end, notably ahead of its original schedule.
This development has propelled Montage's stock value significantly. The Lundins' nearly 20% stake is now valued at approximately C$1.03 billion, contributing to the family's total estimated fortune of $18.1 billion as of March 2026. This success story is underpinned by generations of experience in the mining sector, tracing back to founder Adolf Lundin.
Montage Gold estimated its Ivory Coast mine's gold reserves at $3.1 billion in January 2026, based on a conservative price of $3,000 per ounce. However, current market prices exceed $5,170 per ounce, indicating even greater potential value. The Lundin family, through their holding company Nemesia Sarl, controls over a dozen energy and mining firms, with Montage Gold being a significant recent success.
